Ripple v. SEC: Pundit Highlights Only Factor Stopping Judge From Final Judgment

Pro-XRP pundit asserts that Magistrate Netburn’s decision regarding the motion to exclude Andrea Fox’s declaration is the only thing stopping Judge Torres from issuing her final verdict in the Ripple lawsuit.

The broader XRP community has continued to endure a multi-year legal tussle between the SEC and Ripple that has negatively impacted the asset’s price. Despite the lawsuit lingering for over three years, there is no official date for its end. 

Only Factor Stopping Judge Torres’ Final Verdict 

With several experts projecting that the lawsuit could be resolved this year, prominent XRP community Ashley Prosper pointed out a particular factor preventing Judge Analisa Torres from issuing her final decision in the SEC v. Ripple case.  

He made the assertion after the SEC filed its opposition brief to Ripple’s omnibus sealing motion. According to Prosper, the only thing stopping the judge from issuing the final verdict is a decision from Magistrate Sarah Netburn regarding Ripple’s motion to exclude the testimony of SEC’s witness, Andrea Fox. 

Fox’s Issue Could Cause Further Delay  

In April, Ripple asked Magistrate Netburn to exclude Fox’s declaration, which the SEC submitted to justify its remedies demands. Describing Fox as an expert witness, Ripple contended that the SEC was supposed to tender her declaration during the discovery phase of remedies to enable it to respond and counter her claims. 

Since the SEC did not provide the declaration during discovery, in accordance with the court’s scheduling order for remedies, Ripple asked Magistrate Netburn to exclude the testimony. 

Conversely, the SEC claimed that Fox was a summary witness who only summarized existing facts to help the judge understand Ripple’s financial records. 

According to Prosper, the decision on whether Fox is an expert or summary witness could possibly “open up [a] can of worms” that could further delay the resolution of the SEC v. Ripple lawsuit. 

#XRP #XRPCommunity
Now the only thing left in the #Ripple v #SEC case before Judge Torres's can make her final ruling is for Judge Netburn to issue her ruling on whether Andrea Fox is a summary or expert witness. Lol, I say the only thing. That alone could open up another can of… https://t.co/p4qyJBa1PA

— Ashley PROSPER (@AshleyPROSPER1) May 21, 2024

Prosper emphasized that Magistrate Netburn typically takes around 30 days to decide small motions, indicating that her ruling could come at any moment. Nonetheless, he suggested that Torres’ final verdict could be delayed if any of the parties decided to challenge Netburn’s decision. 

should be any day now. She usually took around 30 days to decide on small motions.
Plus if the parties decide to challenge her ruling, it will add time to Judge Torres's overall decision-making process. So I don't think she'll want to take too long.

— Ashley PROSPER (@AshleyPROSPER1) May 21, 2024

Court Won’t Discard Fox’s Declaration 

The XRP pundit said that while he hopes the court disregards Fox’s declaration after Magistrate Netburn declares her an expert witness, he does not see that scenario playing out. 

His projection aligns with similar views of pro-XRP lawyers Bill Morgan and Jeremy Hogan. As reported earlier, they speculated that even if Netburn considers Fox an expert witness, she will not discard her testimony but allow Ripple to depose her. 

Fox’s declaration is essential to the final verdict and could help determine the appropriate penalty against Ripple for its securities law violation. Hence, Judge Torres would likely wait to see whether her colleague would exclude Fox’s testimony before issuing the final verdict.